Budget

A Budget today that acknowledges the housing market with measures to reduce stamp duty for multiple premises purchased as a package by developers and investors but in a more mainstream gesture also confirmed a total of £250 million in the form of loans for deposits to first time buyers. A sort of extension to the ‘Homebuy’ scheme.

A raising of the tax allowance and a reduction in fuel duty by 1p per litre leaves many better off, unless they are smokers and/or drinkers of course.

For business, corporation tax is to be reduced by 2% in April and by more in future years and £350 million of cumbersome ‘red tape’ will be removed from the way of entrepreneurs and new businesses.